FirmAtlas
Company handbook · LITE · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-17
LITE · CIK 1633978 · LATEST FILING: 10-K FY26 · FILED AUG 17, 2026
Lumentum Holdings Inc.
$824.13
−45.41 (−5.22%)
Close, Oct 16, 2026 · 52-week $153–1,143
Last fiscal year
Lumentum Holdings Inc. reported revenue of $3.0B for the year ended Jun 27, 2026 (FY26), up 83.2% from FY25. Net loss was $6.9B, operating cash flow $751M and free cash flow $300M. Source: 10-K filed Aug 17, 2026.
Market cap
$73.0B
EV/EBITDA
110.0x
P/B
15.7
ROIC
13.0%
Revenue 1Y
83.2%/yr
EPS 1Y
n/m
Shares 1Y
+27%
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Median
Daily closes, split-adjusted · ratios at each fiscal year end
Company
CEOMichael Hurlston
HQSan Jose, CA
AuditorDeloitte & Touche LLP
Employees13,757
Year endsJune
Revenue by segment · FY26
Systems67%
Components33%
Compounded growth & averages
10Y
5Y
3Y
TTM
Share price
35.2%
57.4%
169.4%
404.9%
Upgrade to see 10 years
Share price: yearly compound rate of the traded close; the last column is the past year.
Where the cash went · FY25–FY26
$720M deployed
Capex
$682M
94.7%
Acquisitions
$38M
5.3%
Operating cash flow over the period: $878M. Total debt changed by −$936M. R&D of $660M is already inside operating costs.
More cash than debt at the end of FY26.
Growth engines
How much of the profit growth came from new investment, and how much from running the business better.
Upgrade to see 10 years
Financials
Last 2 years · Upgrade to see 10 years · USD millions · each year opens its 10-K · FY26 = year ended Jun 27, 2026 · change vs previous year
Last 4 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier
Income
Revenue
1,645
3,014+83.2%
YoY
+83.2%
Gross profit
460
1,256+173.1%
Gross margin
28.0%
41.7%+13.7 pp
Operating income
(180)
525n/m
Operating margin
−10.9%
17.4%+28.4 pp
EBITDA
(76)
654n/m
EBITDA margin
−4.6%
21.7%+26.3 pp
Interest expense
22
22−1.8%
Interest coverage
−3.41x
29.98x+33.40x
Net income
26
(6,935)−26876.4%
YoY
−26876.4%
Net margin
1.6%
−230.1%−231.7 pp
EPS (diluted, $)
0.37
−92.96−25224.3%
YoY
−25224.3%
Balance sheet
Total assets
4,219
7,308+73.2%
Cash & short-term investments
877
2,738+212.2%
Inventory
470
692+47.1%
Net PP&E
726
1,159+59.6%
Other assets
2,145
2,718+26.7%
Total liabilities
3,084
2,664−13.6%
Accounts payable
225
567+152.0%
Total debt
2,573
1,637−36.4%
Other liabilities
286
459+60.6%
Shareholders’ equity
1,135
4,644+309.3%
Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.
Cash flow statement · as filed
Cash from operations
126
751+494.9%
Net income
26
(6,935)−26876.4%
Depreciation & amortization
104
129+23.5%
Stock-based compensation
177
170−4.0%
Working capital & other
(181)
7,388n/m
Cash from investing
(84)
(786)n/m
Capex
(231)
(451)n/m
Acquisitions
0
(38)n/m
Investments bought
(366)
(603)n/m
Other investing
513
307−40.1%
Cash from financing
42
1,557+3624.6%
Debt raised
76
48−37.4%
Buybacks
0
—
Other financing
(35)
1,509n/m
Net change in cash
84
1,523+1712.9%
Free cash flow (OCF − capex)
(105)
300n/m
Where the cash went
Operating cash flow
126
751+494.9%
Reinvested in the business
231
489+111.8%
% of operating cash flow
182.9%
65.1%
Capex
231
451+95.4%
Acquisitions
0
38n/m
R&D (memo, already in costs)
304
356+17.3%
Free cash flow
(105)
300n/m
YoY
n/m
Returned to shareholders
0
—
% of free cash flow
—
—
Buybacks
0
—
Change in total debt
—
(936)
Cash left over
—
(674)
FCF conversion (FCF ÷ net income)
−404.2%
—
Owner earnings
—
(7,137)
Owner earnings margin
—
−236.8%
Returns & ratios
ROIC (all capital)
−5.0%
13.0%+18.0 pp
ROIC (operating)
−14.6%
36.8%+51.4 pp
Net debt / EBITDA
—
−1.68x
Debt / equity
2.27x
0.35x−1.92x
ROE
2.3%
−149.3%−151.6 pp
ROA
0.6%
−94.9%−95.5 pp
ROCE
−4.7%
10.9%+15.6 pp
NOPAT
(142)
415n/m
Invested capital (operating)
971
1,283+32.1%
Invested capital (all)
2,831
3,543+25.2%
Reinvestment rate
—
75.3%
Inventory days
145
144−1 d
Days payable
69
118+48 d
Income
Sep '25
Dec '25
Mar '26
Jun '26
Revenue
534
666
808
1,006
vs year-ago quarter
Gross profit
182
240
357
477
Gross margin
34.0%
36.1%
44.2%
47.4%
Operating income
7
64
174
279
Net income
4
78
144
(7,162)
vs year-ago quarter
Net margin
0.8%
11.8%
17.8%
−711.7%
EPS (diluted, $)
0.05
0.89
1.50
−80.83
vs year-ago quarter
Balance sheet
Sep '25
Dec '25
Mar '26
Jun '26
Total assets
4,613
4,805
7,028
7,308
Cash & equivalents
773
658
2,618
2,738
Total debt
3,244
3,287
3,282
1,637
Shareholders’ equity
781
847
2,973
4,644
Cash flow
Sep '25
Dec '25
Mar '26
Jun '26
Operating cash flow
58
127
204
363
Capex
76
84
125
167
Free cash flow
(18)
43
79
196
vs year-ago quarter